CONTENTS

An informal inter-ministerial Privatizations Commission meeting on
Tuesday discussed a package of interventions included in a Medium-term
Fiscal Strategy Framework (2012-2015) unveiled by the government last
Friday.

According to sources, the Commission agreed to push on with a survey on
reforms in the energy sector, including the future of DEPA and a plan
to separate its subsidiary DESFA along with an option right by Public
Power Corporation to buy the company. The survey is expected to be
ready after the Easter holidays and a tender for the companyās sale
will be made later this year.

The meeting also discussed privatization procedures for Hellenic
Telecommunications Organization while the government is expected to
hire consultants in a drive to make a more efficient management of the
stateās real estate property. Sources said that representatives of PMU
(Paris Mutuel Urbain), the French state-controlled totalizator that
controls the pari-mutuel betting on horseracing in France and Europe's
largest betting organisation, with annual turnover of 9.5 billion
euros, attended the meeting expressing interest in an anticipated
tender for the sale of ODIE, Greeceās state organisation of horse
racing and betting.

Under the Medium-term Fiscal Strategy Framework, the government plans
to sell an additional equity stake in Hellenic Telecoms this year,
selling up to 31 pct of DEPA in 2011, selling Trainose and Larco this
year, selling up to 17 pct in PPC in 2012 (with the state maintaining
control and management) and selling the stateās equity stake in OPAP
-Greeceās state lottery. The government expects to raise 15 billion
euros from privatizations by 2013 and a total of 50 billion euros by
2015.

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Prime Minister George Papandreou and a team of ministers on Tuesday
concluded a preparatory meeting held in Parliament to discuss the
government's policies on tourism. Announcements concerning tourism are
to be made by Papandreou at a meeting of the Association of Greek
Tourism Enteprises (SETE) due to take place in early May.

Sources said that the prime minister intends to review what has been
done in the tourism sector over the past year and announce the
government's plans for the sector. A series of proposals have
apparently been put forward and these are to be examined on a bilateral
basis between ministries. There is a consensus among government members
to keep things low key, given that the tourism season extends over a
long period that begins in early spring and ends in mid-November and
can be easily affected by surprise developments.

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